Louisiana State Bank - New Orleans, LA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: September 16, 1861
Location: New Orleans, Louisiana (29.955, -90.075)

Metadata

Model: gpt-5-mini
Short Digest: f6d121ad

Response Measures

None

Description

The article (New Orleans Daily Crescent, Oct 1, 1861) contains a notice dated Sept. 16, 1861 announcing suspension of specie payments and acceptance of Confederate Treasury Notes in conformity with the recommendation of the Governor. The notice records a suspension (government action/policy) but gives no explicit mention of a run or a permanent failure. I classify as suspension_reopening as the suspension is presented as a policy measure (not an immediate failure) and likely temporary; no reopening date is provided in the text.

Events (1)

1. September 16, 1861 Suspension

Cause: Government Action
Cause Details: Suspension of specie payments ordered in conformity with the recommendation of the Governor; bank will accept Confederate Treasury Notes and local bank notes instead of specie.
Newspaper Excerpt: This Bank, in conformity with the recommendation or the Governor, has suspended spécie payment on all its liabilities. Hereafter, Confederate Treasury Notes will be accepted in payment and received on deposit.
Source: newspapers

Newspaper Articles (1)

1. October 1, 1861 New Orleans Daily Crescent New Orleans, LA

Article from New Orleans Daily Crescent, October 1, 1861

Click image to open full size in new tab

Article Text

LOUISIANA STATE BANK, New Orleans, Sept. 16, 1851. This Bank, in conformity with the recommendation or the Governor, has suspended spécie payment on all its liabilities. Hereafter, Confederate Treasury Notes will be accepted in payment and received on deposit. Parties baving paper on collection in this Bank are hereby notified that unless they consent to receive Treasury Notes of the Confederate States, or local bank notes in payment of said paper, to withdraw the same, and no paper shall hereafter be received on collection where the owners require other than Treasury Notes or local bank notes in pay ment of the same. By order: L. BERNARD, Cashier. sel7 if (Signed)